US-Iran crisis pushes oil to $87, Nigeria gains $22/barrel
By Udeme Akpan The latest disagreement between President Donald Trump and Iran over the reopening of the Strait of Hormuz has pushed up oil prices by 5 per cent to $87 per barrel from $83 per barrel in the global market.
The Lagos market also recorded higher prices, with GulfTreasure, Duport and others selling petrol at N1,550 per litre, while Rain Oil was listed at N1,580.
The prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), or diesel, recorded mixed movements across major Nigerian petroleum markets on Monday.
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